Abstract: In order to meet the needs of petroleum exploration of the "second round", this article makes a discussion on the prospect of petroleum resource in China on basis of analysing the conditions of petroleum geology. This paper presents petroleum prospects of the three domains, i.e., Meso-Cenozoic basins onland, Cenozoic basins along the coast and on the continental shelf, and the extensive Paleozoic sedimentary basins. It also suggests the direction for further search of oil and gas. It comes to a conclusion that petroleum geology of China is typical of "a basin community with multiple source, multiple combination, multiple trap-type and multiple cycle". And there is an exciting prospect of hydrocarbon resources.